According to Zacks, “Cumulus Media Inc. is a radio broadcasting company. It owns and operates radio stations which provide local programs, music, sports, entertainment, news and advertising solutions. Cumulus Media Inc. is based in Atlanta, United States. “
Separately, B. Riley upped their price target on Cumulus Media from $14.00 to $18.00 and gave the stock a buy rating in a report on Thursday, May 27th.
Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Wednesday, May 5th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.88) by $0.81. Cumulus Media had a negative net margin of 9.40% and a negative return on equity of 17.40%. Sell-side analysts anticipate that Cumulus Media will post -0.34 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CMLS. Meeder Asset Management Inc. purchased a new position in Cumulus Media during the 1st quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of Cumulus Media during the 4th quarter worth approximately $39,000. Virtu Financial LLC acquired a new position in shares of Cumulus Media during the 4th quarter worth approximately $90,000. Trexquant Investment LP acquired a new position in shares of Cumulus Media during the 4th quarter worth approximately $93,000. Finally, Citigroup Inc. purchased a new stake in Cumulus Media in the 4th quarter valued at approximately $114,000. 66.40% of the stock is currently owned by hedge funds and other institutional investors.
About Cumulus Media
Cumulus Media Inc, an audio-first media and entertainment company, owns and operates radio stations in the United States. It owns and operates 415 stations in 86 markets, as well as approximately 7,300 affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and other partners.
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